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Gold/Mining/Energy : Fairmile Gold -- Ignore unavailable to you. Want to Upgrade?

To: Douglas Simpson who wrote (3623)	7/21/1998 10:53:00 AM
From: Steve Stakiw	Read Replies (2) \| Respond to of 4057

Update on recent activity in the area of Buffalo Valley. There has been increased exploration activity in the vicinity of Fairmile's Buffalo Valley project located at the north end of the Battle Mountain/Eureka trend in north-central Nevada. On the Converse property located less than 8 miles northwest of the Buffalo Valley mine, recent drilling by Romarco/Uranerz USA(Cameco Gold)/Newmont encountered high grade gold mineralization in one hole in addition to several holes returning significant gold mineralization at their North Redline project. The drill indicated resource at their Redline deposit (1/2 mile south of the North Redline) presently stands at 49.9 million tons grading 0.021 oz/ton Au for a total of 1,038,000 oz. This compares favorably with the resource at the Buffalo Valley project of 20.66 million tons grading 0.029 oz/ton Au for a total of 600,100 oz. There is also good potential to increase this resource with further drilling on the targets near the A/B/O Complex (the site of the existing open pit). Recent computer modeling of drill holes has indicated a new target along strike but deeper than the present 600,000 oz resource. Fairmile continues discussions with various potential joint venture partners interested in the Buffalo Valley Project and is optimistic that a partner may be announced soon. More detailed technical information on Fairmile Gold's Buffalo Valley and Highland projects is available on the website at fairmile.com Steve